Entices clients to invest but never allows withdrawals?! What is the truth behind GroupFX PRO?

About WikiFX

WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 40,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

Concerning GroupFX PRO

GroupFX PRO is an online forex broker that is newly established. It was registered in China and ran its business for less than one year. Surprisingly, the website of this broker is not available thus we can not get enough information from its own perspective. The email address for its customer service is cs@groupfxpro.com. In addition, WikiFX has given this broker a very low rating of 1.01/10.

Regulation Status of GroupFX PRO

Obviously, GroupFX PRO is not a regulated broker. It does not hold a regulatory license from any relevant institution. It is risky to invest in an unregulated broker.

The complaint from the victim

This Taiwanese victim told WikiFX that he met a guy on Instagram. He told the victim he is from Shanghai and current career in the steel trade in Hong Kong. This person convinces the victim that forex trading is a good way to become rich. He taught the victim how to download the GroupFX PROs APP.

The victim stated the investment on Oct 10, 2022. The person even assisted the victim in investing in order to gain the trust of the victim.

The victim made four investments and earned about 30 million TWD.

However, On Oct 30, 2022, the victim occasionally saw forex fraud-related reports. And he tried to withdraw, but this broker rejected his withdrawal request for all sorts of reasons. Even worse, GroupFX PRO seized on users' eagerness to withdraw and ridiculously demanded that the victim need continually pay the money if he insisted on withdrawing.

The broker freezes victims account and asks the victim to pay an amount of around 1200000TWD.

On Nov 16, 2022, GroupFX PRO has finally blown the victimsaccount.

Now, the victim has chosen to call the police as well as seek help from WikiFX.

More Thought

We believe the person who led the victim to this trap is an agent of GroupFX PRO. He was using bonuses to lure a victim into investing.

We believe that GroupFX PRO is getting involved in a scam. You need to avoid this broker Withdrawal rejection, and even putting forward unacceptable demands are common tricks used by scam brokers. The reason why WikiFX exposed this case to the public is to remind all traders of the potential risks. All traders should be vigilant when investing in a broker.

WikiFX is actively reaching out to the victim hoping to find more evidence to help him resolve the problem. Please stay tuned for more information.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!